16 Insurance Tech Startups to Watch in 2016
An increasing number of technology startups are targeting the insurance industry with new approaches to industry problems. Here are 15 to watch next year.
The only startup that is itself an insurance carrier, Lemonade says its peer-to-peer technology will challenge the way insurance companies work. The company just announced a $13 million funding round.
Aviva Ventures, a venture capital arm of the big UK insurer, launched on Dec. 7 with this company as its first investment. Cocoon makes this internet-connected security device for the home.
Roost makes a smart battery for smoke detectors and counts USAA among its investors.
Hartford Steam Boiler has invested in this company that makes sensors for heating, ventilation and air conditioning systems.
Trov is a somewhat senior member of this list. It provides technology consumers can use to catalog insured belongings. Recently, Trov pitched Aviva at its InsurTech Meetup in London.
Another company that pitched Aviva, Kasko provides a white-label option for instant insurance purchases on affiliate platforms.
Also in London, the city's Startupbootcamp recently launched an accelerator just for insurance technology companies with a class of 10. First of those: BimaAfya, a company connecting low income populations in sub-Saharan Africa with health insurance.
Buzzmove was also selected for the accelerator. It provides price comparison for the removals trade; information that is important to insurers after a loss.
CoVi Analytics is a platform for insurers to use the required reporting from Solvency II data in their enterprise in other ways.
Domotz is an Internet of Things management system that offers a platform for insurers to rate risk and manage claims.
This company helps life and health insurers leverage data from wearables.
This company uses APIs to connect insurers to retailers so people can quickly and easily add coverage to new purchases.
Aimed at the UK pension market, this selected company helps connect dormant pension accounts to holders.
This company allows users to "shop around" their wearable and other health data to insurance companies and find the best price.
This is a self-service total loss claims platform that claims to reduce insurers workload and leakage while improving customer service.
Finally, Safer is designed to help millenials identify what kind of insurance they need by tapping into their social data
Check out our previous startup lists:
6 Startups with Insurers' Financial Backing
First class of Des Moines' Global Insurance Accelerator
5 Startups Insurers Should Consider